Who is R Subramaniakumar, the new MD & CEO of RBL Bank?

R Subramaniakumar, new RBL Bank chief (File image)

R Subramaniakumar, a veteran banker with over four decades of experience, was on June 11 announced as the new managing director and chief executive officer of RBL Bank.

The board of directors has confirmed his appointment as the MD and CEO of the bank for a "period of three years", the private lender informed the stock exchanges.

The announcement came nearly six months after RBL's long-term head Vishwavir Ahuja stepped down, and the bank had to appoint Rajeev Ahuja at the helm for an interim period.

Who is R Subramaniakumar?

As a banker, Subramaniakumar began his career more than 40 years ago, in 1980, with the state-run Punjab National Bank (PNB).

His tenure with the PNB lasted for 35 years, and he was eventually elevated as the bank's general manager -- a position he held for three years between 2013 and 2016.

Subramaniakumar joined the Indian Overseas Bank in October 2016 as its MD and CEO and continued to hold the charge till June 2019.

In November 2019, the Reserve Bank of India (RBI) appointed him as the administrator of the Dewan Housing Finance Corporation Ltd (DHFL), which had turned insolvent. Subramaniakumar was part of the panel which successfully achieved its resolution.

Subramaniakumar is currently a non-executive chairman of India1 Payments Ltd, one of the country's largest ATM services providers. He is also an independent director of the LIC Pension Fund Ltd.

In terms of education, Subramaniakumar is a physics graduate and holds a post-graduate diploma in computer application from the reputed Indian Institute of Bankers. He had acquired certified information system audit and certified information security manager certificates from Information Systems Audit and Control Association (ISACA), based in the United States. He also holds an advanced banking certificate from the University of Maryland.